The U.S. fossil fuel bailout has already started
How big polluters are profiting from the government response to COVID-19
Greetings,
Branch Out is here to bring you the most updated stories on how the Coronavirus is impacting the climate crisis. Our latest article “Fossil Fuel Bailout? Why the Coronavirus is a crossroads for Climate Action” is available now. Here is an excerpt:
“In response to the lack of public accountability over the CARES Act, the Center for Biological Diversity filed a Freedom of Information Act request for the applications of fossil fuel and mining companies to be made public:
“Disclosure of the requested records will significantly enhance the public’s understanding of the potential financial assistance fossil fuels and mining companies will receive coupled with the lack of Congressional oversight, as compared to the level of public understanding that exists prior to the disclosure.”
The connections between the COVID-19 pandemic and the climate crisis go beyond the government response. Branch Out reported Friday how deforestation and air pollution make pandemics like COVID-19 more likely to occur and more severe. Although stimulus is necessary to support suffering workers and families, climate activists worry a fossil fuel bailout will boost pollution while bankrupting the planet.
Although the stimulus bill did not include $3 billion for big oil, an idea that had previously been floated, it did give $32 billion to the airline industry without any environmental standards attached, according to Salon. With limited oversight and environmental protection, however, the fossil fuel industry could cling to life despite pollution putting the world on the brink of climate collapse.
The truth is, oil and gas companies were going bankrupt well before the COVID-19 pandemic rattled the industry further. Oilprice.com reported that 50 oil and gas companies filed for bankruptcy in the first three quarters of 2019 because they racked up multi-billion-dollar debts to ramp up production only to see the price of oil sputter.”
Take Action
In this time of social distancing, we can still make a difference remotely. Here are four steps you can take today.
Share the article, so that more people will be informed about what is happening.
Contact your elected officials and tell them that we cannot bailout fossil fuels and that only a green stimulus such as the Green New Deal or Red Deal will provide relief for working people and families.
Do everything you can to divest and abstain from fossil fuel use so that emissions continue to decline.
Contribute to Branch Out so we can continue bringing you the news and fund regenerative community agriculture to put carbon back in the soil and food on the tables of low-income families.